The case involves multiple applications (IAs 492/2021, 561/2021, 563/2021, 397/2019, and 1371/2022) filed in relation to the Corporate Insolvency Resolution Process (CIRP) of Ria Constructions Ltd. under the Insolvency and Bankruptcy Code, 2016. The Resolution Professional (RP) filed applications seeking recovery of outstanding amounts from various respondents. IA 561/2021 pertains to recovery of Rs. 9,72,973 from GGDSD College Society. IA 563/2021 seeks recovery of Rs. 33,20,676 from respondents. IA 492/2021 aims to recover Rs. 16,91,193.83 from respondents. CA 397/2019 concerns recovery of Rs. 6,44,71,000. IA 1371/2022 was filed by a Resolution Applicant against the RP and Punjab National Bank, challenging the decision for liquidation.
Ria Constructions Ltd. underwent CIRP, initiated after an application under Section 7 of the Insolvency and Bankruptcy Code was admitted on 2018-12-11. Desh Deepak was appointed as the Resolution Professional. Several applications were filed by the RP seeking recovery of outstanding amounts from various parties. Punjab National Bank (PNB) is the financial creditor. GGDSD College Society allegedly owes Rs. 9,72,973 for construction work. Other respondents allegedly owe Rs. 33,20,676 and Rs. 16,91,193.83 respectively. An arbitration award of Rs. 3,67,72,000 plus interest was passed in favor of the corporate debtor against a respondent. The RP found that the Corporate Debtor is owed Rs. 19,25,46,787.70 and Rs. 58,68,010 by M/s Lafarge. The CoC approved a proposal for
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The case involves multiple applications (IAs 492/2021, 561/2021, 563/2021, 397/2019, and 1371/2022) filed in relation to the Corporate Insolvency Resolution Process (CIRP) of Ria Constructions Ltd. under the Insolvency and Bankruptcy Code, 2016. The Resolution Professional (RP) filed applications seeking recovery of outstanding amounts from various respondents. IA 561/2021 pertains to recovery of Rs. 9,72,973 from GGDSD College Society. IA 563/2021 seeks recovery of Rs. 33,20,676 from respondents. IA 492/2021 aims to recover Rs. 16,91,193.83 from respondents. CA 397/2019 concerns recovery of Rs. 6,44,71,000. IA 1371/2022 was filed by a Resolution Applicant against the RP and Punjab National Bank, challenging the decision for liquidation.
Ria Constructions Ltd. underwent CIRP, initiated after an application under Section 7 of the Insolvency and Bankruptcy Code was admitted on 2018-12-11. Desh Deepak was appointed as the Resolution Professional. Several applications were filed by the RP seeking recovery of outstanding amounts from various parties. Punjab National Bank (PNB) is the financial creditor. GGDSD College Society allegedly owes Rs. 9,72,973 for construction work. Other respondents allegedly owe Rs. 33,20,676 and Rs. 16,91,193.83 respectively. An arbitration award of Rs. 3,67,72,000 plus interest was passed in favor of the corporate debtor against a respondent. The RP found that the Corporate Debtor is owed Rs. 19,25,46,787.70 and Rs. 58,68,010 by M/s Lafarge. The CoC approved a proposal for
…Application under…
Meeting of the…